News
Bermuda likely to be affected by Hurricane Bill
Since Bill is a large system, Bermuda is likely to feel the effects of the storm even if it is not directly hit, according to catastrophe risk modeling firm AIR Worldwide.
Peninsula set to double broker division
Head of partnerships Le Roux says firm will bring in 20 new legal consultants.
QBE launches major incident response service
Insurer to join forces with loss adjuster Cunningham Lindsey.
Hurricane Bill upgraded to category 4
Hurricane Bill has been upgraded to a Category 4 strength hurricane, according to the US National Hurricane Centre.
Pick of the week
Bridget McIntyre joins Snowball at Suncorp; Homeserve close to MBO; Lockton wins major account with Bupa; FSA introduces employee remuneration code; Groupama outsources claims to Questgate and the Cotswolds Group
Accident at power plant could cost insurer $200m
Sayano-Shushenskaya plant in Siberia, Russia insured by ROSNO.
Benmosche changes AIG restructuring plan
The newly appointed chief executive of AIG, has started to cut up the insurer's restructuring plan, says Reuters.
RSA extends outsourcing agreement
Accenture deal now includes personal lines business.
Allianz granted licence in Qatar
Insurer to write Takaful insurance in QFCRA.
US federal debt poses risks to economy, says Buffett
Buffett applauds measures adopted by the Federal Reserve and officials from the Bush and Obama administrations, Buffett noted the US is fiscally in “uncharted territory.”
Law firm welcomes Corby appeal
BLM believes judgement had flaws.
Hijackers of the Arctic Sea demanded ransom of $1.5m from insurer
The hijackers of the Arctic Sea, the freighter found this week by Russia’s navy after going missing shortly after passing through the English channel, demanded a ransom of $1.5m from the ship’s insurer.
Biba: insurers dragging their feet over claims
CEO Eric Galbraith highlights research which finds 58% of brokers are fighting harder to get claims paid.
Giles stresses MGA commitment after Ernoult departure
Former Oxygen broking boss Tom Ernoult joined in March.
AA in new motor premium hike warning
Broker concerned by fixed penalty plan.
SEC probe into AIG noted disclosure "inconsistencies"
The adequacy of AIG's disclosure on derivatives that drove it to the edge of collapse was questioned by regulators months before the insurer's federal bailout.
New AIG CEO on $7m salary
AIG reveals Benmosche will be paid an annual salary of $7m as successor to Liddy who was paid $1 a year.
Markel appoints contingency underwriter
James Leach joins from Sirius International.
Lloyd's MGA boss to step down
Canopius' Clive Watson to retire
Allianz profits hit by low interest rates
Profits fall 6.1% to £88.3m.